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Hyundai's October sales up 21 percent

Posted on Nov 01, 07:42PM | IANS

Automobile major Hyundai Motor Thursday reported an increase of 21 percent in its October sales at 58,785 units from 48,322 units sold in the same period of 2011.

According to the company, its domestic sales grew by eight percent at 35,778 units from 33,001 units sold in the corresponding month of last year.

The company's exports skyrocked by 50 percent in the month under review, helped by good volumes sales in South Africa and Mexico. Hatchbacks i10 and i20 were well received in these countries.

Total exports stood at 23,007 units from 15,321 units shipped out in October 2011.

"The festivals brought in positive growth in domestic sales with resurgence in petrol variants. All models showed a growth, especially with strong demand of Eon and Elantra,"said Rakesh Srivastava, vice president sales, HMIL.

However, he added: "In the coming months the challenge would be to convert customer interest into sales as the general inflationary trend, high fuel prices and interest rates are still keeping the customer sentiment low."

Segment-wise cumulative sales of A2 segment which includes hatchback majors like Eon, Santro, i10, i20, were 50,146 units followed by the A3 sedan segment which includes Accent and Verna at 7,895 units, A4 luxury segment sedan of Elantra at 668 units, A5 Sonata at 20 units and sports utility vehicle (SUV) Santa Fe at 56 units.